DEVELOPMENT HIGHLIGHTS

2025 has been a year of significant progress across GEON’s development projects in Queensland. In Townsville, Chipmunks Playland & Café at Fairfield & Co is scheduled to open this December, providing a new family entertainment option for the community. Early next year, The Rook, an innovative venue combining a bar, restaurant, coffee roasting, and entertainment, will open, further enhancing the precinct. Additional retail and commercial areas within Fairfield & Co are being prepared for new tenants, with approvals underway and construction expected to begin in early 2026.

At Riverway Plaza, site preparation is complete and Stage 2 construction is underway. Demolition and basement excavation works have been finished, with the main build targeted to commence in December 2025. Separately, two new drive-thru locations at 1199 Riverway Drive, for Hungry Jack’s and Banjo’s Bakery Café, have begun construction. Across Townsville, planning approvals were lodged this year for other projects including Aldi and Anytime Fitness, supporting continued growth in the city.

Strong local partnerships have supported GEON’s progress. In Townsville, our ongoing collaboration with Townsville City Council and Phoenix Constructions has been essential in achieving milestones efficiently and successfully.

In Brisbane, work continues steadily at Albion Exchange, moving the project closer to construction.

Looking ahead to 2026, construction at Fairfield & Co and Riverway Plaza will continue, with The Rook opening in March/April, new retail and commercial spaces commencing construction, and practical completions expected at Riverway Plaza Stage 2 and 1199 Riverway Drive by mid-2026.

LEASING ACHIEVEMENTS
Leasing activity in 2025 was among GEON’s busiest yet, spanning multiple geographic locations and involving local “mum and dad” retailers, state-based operators, and national and international brands.

Supermarkets continued to grow our portfolio, with leases signed for Coles at Riverway Plaza and Aldi in Townsville. In large format retail, a brand-new Harvey Norman Superstore is set to be constructed in Ayr. At Fairfield & Co, leases were executed for Chipmunks Playland & Café and The Rook, bringing a mix of family entertainment and innovative hospitality to the precinct.

Quick-service restaurants also expanded, including three new Hungry Jack’s locations, two Banjos Drive-Thru stores (with a third coming in 2026), KFC at Raceview, and a new Origin Kebab Drive Thru at Rothwell.  Fitness offerings grew with Anytime Fitness stores in Townsville and Rothwell. Dining options expanded with Cafe 63, Little Japan Group (including Sushi Train and Korean BBQ), and Amalfi Pizza, now a national chain.

Pharmacy offerings also strengthened, with a Discount Drug Store relocating to Riverway Plaza in 2026 and a large-scale 440m² pharmacy approved for Fairfield & Co, subject to ministerial approval. Specialty and local retailers such as hairdressers, kebab shops, and fashion stores further diversified our tenant mix.

This significant leasing activity has positioned GEON strongly for 2026, with multiple deals already underway or close to finalisation.

ASSET & PROPERTY MANAGEMENT GROWTH
GEON’s asset management portfolio expanded substantially in 2025, welcoming new centres in Rasmussen, Woorim, Gladstone, Ayr, and Bracken Ridge. The total portfolio now exceeds 12,111 square metres of net lettable area, strengthening GEON’s presence across key regional and metropolitan markets.

Under the guidance of our new leadership team, CEO Dan Moore, Senior Portfolio Manager Rob Smith, and Property Manager Justine Kirkman, GEON delivers proactive, tenant-focused management. This team ensures smooth day-to-day operations, strong tenant relationships, and long-term asset performance, reinforcing the value and stability of the portfolio.

FUNDS MANAGEMENT
In Funds Management, GEON engaged clients, partners, and investors through a Property Investment Information Evening held in September, discussing long-term strategies in the commercial property sector and how thoughtfully managed portfolios can drive sustainable wealth creation. Looking ahead to 2026, GEON is focused on bringing future investment opportunities to market, continuing to create value for our clients and partners.

GEON LIVING

GEON Living marked a milestone this year with formal approval for Townsville’s first major Build-to-Rent project within the $125 million Fairfield & Co precinct. The development will feature two 12-storey towers with nearly 300 apartments, ground-floor retail and commercial space, and 252 car parks, providing housing for up to 700 residents, including essential workers. This project reflects GEON’s commitment to delivering high-quality, community-focused developments in Queensland’s growing regions.

CONCLUSION
2025 has been a year of significant achievement for GEON across all divisions. From successful project delivery to dynamic leasing activity, portfolio growth, and strategic investment initiatives, our teams have continued to deliver lasting value for tenants, investors, and communities.

As we look ahead to 2026, GEON remains focused on growth, innovation, and community-focused development, with a commitment to high-quality projects, strategic leasing solutions, and investment opportunities that create sustainable success for all stakeholders.